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Sharon has just retired, and has 1 0 0 0 0 0 0 dollars in her retirement account. The account will earn interest at an
Sharon has just retired, and has dollars in her retirement account. The account will earn interest at an annual rate of percent, compounded monthly. At the end of each month, Sharon will withdraw a fixed amount to cover her living expenses.
Sharon wants her savings to last exactly years. How much money can she withdraw each month?
Give your answer in dollars, correct to the nearest cent.
monthly withdrawal:
What is the maximum amount that Sharon can withdraw each month if she wants her savings to last indefinitely?
monthly withdrawal:
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